Insurance Companies are some of the largest financial companies, and the biggest insurance companies in the US are at the top of their game. Every person needs insurance at some stage of their life. If you have insurance in certain categories, you can live a happy and healthy life without any worries.
Insurance is basically a process of transferring risk in exchange for payment. The insured give a fee to the insurer, and in exchange, they get compensated for their losses if any bad things happen. This kind of system is not a new concept in the world, and it’s actually quite old. But, in this postmodern age this system has evolved and diversified, and many big firms come into play. The first insurance company in the USA was founded in 1735. The first company (which was also formed in the US) was the Insurance Company of North America. Insurance and insurance companies have grown tremendously in the last few years. The business of insurance has even developed towards multi-state, multi-line and multi-national through some big companies. Now you can get covers for life risks or accident risks anywhere in the world along with the risks involved in a business.
Insurance companies play a vital role in the United States’ economy, which is why there are so many. It is also a very important part of the financial service sector in the U.S. This insurance industry contributes more than 40% GDP of the financial organizations, and they employ more than 2 million people. These companies provide everything from life insurance, property and casualty insurance, health insurance and much more. By now you are probably wondering which are the largest life insurance companies in the US as well as top health insurance companies in the USA? As we are talking about the health insurance companies, why don’t you check our list of 10 Largest Health Insurance Companies in America. We have gathered the top 50 insurance companies in the world at the beginning. Then we have searched for the companies which operate their service in the US. We have found some major life insurance companies on that list. We have also searched for the largest property and casualty insurance companies as well as largest auto insurance companies. The top 10 auto insurance companies in the USA were also included in the world rankings. We also found some big companies, which are the publicly traded health insurance companies in the US.
The top insurance companies are being ranked according to a lot of factors like market capitalization, revenue, review, profit, number of insured, etc. We also looked at their own assets while creating the list. It’s no surprise that most of the company’s own assets run billions of dollars and that’s why they are the biggest and most powerful.
Let’s take a look at our list of 11 biggest insurance companies in the US.